Rosetta Genomics Reports Third Quarter 2008 Financial Results; Records First Revenues of $705,000; $7.4 Million Added to Available Cash Due to Repurch... (RNA tests represent a significantopportu...)

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Rosetta Genomics Reports Third Quarter 2008 Financial Results; Records First Revenues of $705,000; $7.4 Million Added to Available Cash Due to Repurchase of ARS

Date:12/5/2008

RNA tests represent a significant opportunity for us at this stage.

Recently, our commercial efforts have received a significant push with two key financial events. We are excited to report our first revenues which were generated by Parkway Clinical laboratories, our recently acquired CLIA-certified lab in Pennsylvania. The second financial event is the repurchase of $7.4 million worth of Rosetta Genomics-held Auction Rate Securities by Credit Suisse in the fourth quarter.

In addition to the commercial achievements we have made during this past quarter, we have made significant R&D progress. We have recently launched "Rosetta Green" a microRNA-based plant biotechnology project which will focus on the development of a wide range of plant-based applications using microRNAs. This project has been well received by the industry, and we look forward to its growth and expansion.

This has been an overall excellent quarter for us, and we expect the progress we have made will continue throughout the remainder of the year."

Financial Overview

Revenues for the third quarter of 2008 were $705,000.

Operating loss for the third quarter were 2008 was $3.1 million (including a non-cash expense of $237,000 related to stock-based compensation), compared with an operating loss of $2.6 million (including a non-cash expense of $236,000 related to stock-based compensation) for the corresponding quarter of 2007. Net loss for the third quarter of 2008 was $3.0 million, or $0.25 per ordinary share, compared with a net loss of $2.2 million, or $0.18 per ordinary share, for the corresponding quarter of 2007.

Revenues for the nine months ended September 30, 2008 were $705,000. Net loss for the nine months ended September 30, 2008 was $10.6 million (including a non-cash expense of $ 723,000 related to stock-based compensation), or $0.88 per ordinary share, compared with a ne
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Rosetta Genomics Reports Third Quarter 2008 Financial Results; Records First Revenues of $705,000; $7.4 Million Added to Available Cash Due to Repurch...(RNA tests represent a significantopportu...)